Nithin Kamath, the founder and CEO of Zerodha, said on Thursday that India requires many large firms that are aware of what is going on around them.
“You can be a business that lets the product do the talking, that thinks about giving back. A conscious business. I think India needs that. India needs a lot of big businesses which are conscious about what is happening around them,” he said.
“There is a concentration of wealth happening on the planet, and that’s only going to accelerate and I don’t see how things will change. I think wherever there is a concentration of wealth, people should do more to give back,” Kamath said at “Isha Insight – The DNA of Success.”
The four-day event, which is being attended by entrepreneurs, CEOs, and CxOs from 20 countries across the world, is developed by Sadhguru to assist entrepreneurs prepare for the next step of their leadership journey.
Intermediaries generate money by making things complicated, according to Kamath, and the first thing his business intended to do was make it clear.
“In financial services, intermediaries really make their buck by making things complex and opaque. The first thing we wanted to do was to make it transparent. Our culture is based on doing what is best for the customer. If you can make a customer’s life easier, you should go ahead and do it. Transparency is the foundation upon which we intend to build our organisation,” he said.
When it comes to the broking market, Kamath says the organisation saw an opportunity to disrupt the current broking or income venture since the incentives were not aligned with the consumer.
“We realised that there is an opportunity to go into the industry and clean up. There is a way to disrupt, just operationally, even if it’s not a product. There are things that can be done that are right for the customer,” he said.
Sadhguru, the founder of the Isha Foundation, believes that in the twenty-first century, corporate leadership must shift from profit to purpose.
The spiritual leader advised the audience that having a clear purpose in business is important. “The most important thing is to cultivate a burning desire in your heart. If this occurs, you will notice that plans will come to plenty.”
Advising the participants not to become fixated on their plans, Sadhguru said that “plans are only tools to execute the purpose. How many lives you’ve changed, how far you’ve reached… These are the factors that will determine your success. You must show a purpose larger than yourself.”
Sadhguru said, “Challenges are times or challenging times are the times when great leaders can be manifested. Challenging times are those times where you could rise as a big possibility as a leader in the world because that is the time everybody looks for leadership. Because that is the time everybody is looking for someone who they can emulate.”
